#Memerally Here’s a Technical Analysis breakdown of the 1MBABYDOGE/USDT

Observations:

1. Price Movement: The current price is $0.0042372, with a 62.59% increase over the past 24 hours, suggesting strong bullish momentum.

2. 24-Hour High and Low:

High: $0.0047000

Low: $0.0025488

This shows significant price volatility.

3. Moving Averages (MA):

MA5 (short-term): $18,393,650

MA10 (slightly longer-term): $19,327,663

This shows the short-term MA is lower than the longer-term one, indicating recent upward momentum.

4. Volume: Strong volume is visible, with a surge in trading activity supporting the price increase.

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Technical Indicators:

Trend Direction: The upward price movement supported by high volume suggests a bullish trend.

Support Levels:

The nearest support could be around $0.0041864 (previous minor dip).

If it falls further, $0.0041452 could act as the next support.

Resistance Levels:

Immediate resistance at the 24-hour high ($0.0047000). If the price breaks above, the next potential target could be $0.005.

Failure to break resistance could result in a pullback.

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Trade Strategy:

Entry:

You can buy if the price retests support ($0.0041864 or lower) and shows signs of rebound (e.g., green candles forming).

Take Profit (TP):

First TP: $0.0045000 (near resistance)

Second TP: $0.0047000 (24-hour high)

Aggressive TP: Above $0.0047000 (if volume increases).

Stop Loss (SL):

Place a stop-loss just below the nearest support level to manage risk:

SL1: $0.0041000 (just below $0.0041452)

SL2: $0.0040000 (for wider risk tolerance).

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Final Thoughts:

The market is in a bullish state, but volatility is high. $1MBABYDOGE